9.14.2013

Boston Globe Say It Aint So. . . .

The Globe, as with all dying newspapers in this country, has changed dramatically in the last decade. I have fond memories of my dad bringing home the Sunday Globe and taking a good portion of the week to read it. I even had the privilege of working for a former managing editor of the Globe and meeting among other journalist idols, Bob Ryan when I visited the paper as a teenager. But if you know me, you know I'm not about to get sentimental about an industry that was slow to innovate and has seen its values plummet accordingly. There has been a flurry of newspaper sales lately including the sale of the Globe for $70 million to John Henry and the sale of the Washington Post for $250 million to Jeff Bezos. The Globe sale for example represents a 6 cents on the $1 trade for the New York Times - amazing really. Time will tell whether these smart, rich buyers are really that smart. It does appear as though the market is at the bottom with nowhere to go but up. We'll see. I have only one more question:

Why the hell are Jordan and I getting our Globe bill from Pittsburgh. This is either a sign of the apocalypse or a brilliant streamlining globalization move by John Henry. I can't decide, but it definitely is alarming.


Why do I send money for my Globe subscription to Pittsburgh?





















 

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